Futures Rally After Crap Earnings, More Bailouts

Somehow, after the big losses at Citi and Bank Of America, and confirmation that the feds need to intervene some more, the psychology has turned for the better. After yesterday’s turnaround, the futures indicate a continued really, with the Dow up about 130 above fair value.

The gains also come after a turnaround in Asia: The Nikkei, which has been getting creamed, rose 1.3%.

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